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Correlation between USDJPY and the U.S. stock market

Correlation between USDJPY and the U.S. stock market | 04 September 2020

04 September 2020, USD/JPY

USDJPY trading plan:

The US Federal Reserve balance has increased by $ 17 billion over the past week, reaching a two-month high. The Fed continues to buy Treasury and mortgage bonds on its balance sheet and will do so for at least the next year. The S&P500 stock index has historically been correlated with the Fed's balance sheet. Yesterday's correction in the stock market offers a great opportunity to buy a stock index at a discount. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 106.11 and take profit 106.45.

David Johnson
Analyst of «FreshForex» company
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